11004 NE 11th St #404 · Bellevue, WA 98004

$559,000

1 bd · 1.0 ba · 788 sqft · Condo public records · 34 Days on market

Built 2001 $709/sqft · 24% below area Est $738k · 24% under $520/mo HOA · 18% of rent

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Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +15.0/15.0
• Schools +6.9/10.0
• Appreciation +4.8/10.0
• Livability +4.4/5.0
• Cash flow +3.1/30.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• 1% rule +0.1/10.0
• DSCR +0.0/10.0

Listing remarks

Meet Library Square. Located in Downtown Bellevue, blocks from all that the city has to offer. Enjoy sunrises at the easterly facing balcony. Updated kitchen and bathroom meet the needs of today's most discerning homeowner. New engineered hardwood flooring at main living area. Secure, gated garage parking provides an extra layer of comfort. No rental cap affords owners with the option of a cash-producing investment property. Top rated Bellevue School District.

Key facts

• Updated kitchen
• Updated bathroom
• $520 HOA

Tags

• EASTERLY FACING BALCONY
• UPDATED KITCHEN
• UPDATED BATHROOM
• SECURE GATED GARAGE PARKING

Property features AI

Finance

• Other: Building contains 51 units; Bus line nearby
• Financial info: Listing terms: Cash or Conventional
• HOA & community: Monthly HOA fee of $520; HOA covers central hot water, common area maintenance, earthquake insurance, road maintenance and trash; Association managed by Trestle Community Management; Community amenities include elevator, lobby entrance, fire sprinklers, cable TV and high-speed internet availability; Pets allowed (cats and dogs)

Exterior

• Parking: Common garage with 1 covered space (parking space #64); Building has assigned garage parking
• Utilities: Electric and natural gas service; City of Bellevue water and sewer; PSE power; Electric water heater located in closet
• Home design: Attached condominium; One-level condo unit; Located on the 4th floor; Main entry level; Faces east; Part of a 6-story building (Library Square)
• Construction: Stucco construction; Flat roof; Built (effective) in 2001
• Exterior features: Stucco exterior; Corner lot; Curbs, paved streets and sidewalk; Unit-level view

Interior

• Kitchen: Electric cooking; Dishwasher; Garbage disposal; Refrigerator; Stove/Range
• Bedrooms: 1 bedroom (main level)
• Flooring: Ceramic tile; Engineered hardwood
• Bathrooms: 1 full bathroom with bathtub and shower
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Gas fireplace; Walk-in closet(s); Water heater (electric); Insulated windows; Balcony/Deck/Patio
• Laundry & utility: Washer hookup; Dryer hookup (electric); Washer and dryer included

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $559k.

Deal economics

• At list price, monthly cash flow is $-2k ($-22k/yr) — negative.
• To cash-flow at today's rent, offer at most $241k (56.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $282k (49.5% below list).
• Recommended offer: $241k (56.9% below list) — sets the bar for cash-flow.
• Cap rate 2.4% vs local median 1.1% in Bellevue — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 87/100 on livability (#15 in WA, #314 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living F.
• Bellevue School District (urban): math 73% / reading 79% proficiency, ranked #7 of 291 in WA (top 2%) — strong family-tenant draw, lease renewals of 3-5y typical; only 15% free/reduced lunch — higher-income household profile.
• Zoned schools: Clyde Hill Elementary (459 students, 14% FRL); Bellevue High School (1,517 students, 15% FRL) — zoned schools at 14% FRL track the district average.
• Market conditions: Rents soft (-0.2%/yr); 350 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 10,555 units permitted in King County in 2024 (7,119 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($4k loan paydown + $-2k appreciation (-0.3% local appreciation)).
• King County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 9, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($542k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 23y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $241,150 (56.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 57% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.51% ✗
• Cap rate: 2.43%
• Cash-on-cash: -13.79%
• DSCR: 0.39
• GRM: 16.5

CMA / ARV

• ARV (median comp): $738,262
• List price: $559,000
• Delta: -24.28%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-0.34% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -21.5%
• Equity multiple: 0.06×
• Total profit: $-147,890
• Equity at exit: $152,947

10-year hold

• IRR: -16.7%
• Equity multiple: -0.56×
• Total profit: $-244,205
• Equity at exit: $176,530

Cash invested: $156,520 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 28 Tenant-Leaning
• State Washington: 28 Tenant-Leaning · D+8
• County: — inherits STATE
• City: — inherits STATE

Just-cause statewide (2021); Seattle layers rent control restrictions + relocation assistance; very tenant-friendly.

Methodology + full state rankings →

ZIP-level market 98004

• Home prices YoY: -0.1%
• Rents YoY: -0.2%
• Active inventory: 350
• Price-to-rent: 16.5×

Monthly cashflow live

• Estimated rent: $2,825 high
• Mortgage (P&I): −$2,931
• Tax from tax record: −$347 /mo · $4,158/yr
• Insurance: −$233
• HOA: −$520
• Vacancy / Maint / Mgmt: −$593
• Net cashflow: $-1,799

Break-even live

Break-even rent $5,102

Max offer price $241,150

Occupancy floor —

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $139,750
• Closing costs: $16,770
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11004 NE 11th St Bellevue, WA	1.0	1.0	788	$2,250	$2.86	2d	1	0.03mi
11000 NE 10th St Bellevue, WA	2.0	1.0–2.0	1036	$3,210	$3.10	2d	1	0.03mi
11130 NE 10th St Bellevue, WA	1.0–2.0	1.0–2.0	856	$2,544	$2.97	2d	11	0.07mi
938 110th Ave NE Bellevue, WA	1.0–2.0	1.0–2.0	835	$2,190	$2.62	1d	6	0.09mi
989 112th Ave NE #203 Bellevue, WA	2.0	2.0	998	$3,570	$3.58	3d	1	0.10mi
925 110th Ave NE #306 Bellevue, WA	1.0	1.5	970	$3,000	$3.09	11d	1	0.10mi
958 111th Ave NE Bellevue, WA	2.0	1.0–2.0	645	$3,037	$4.71	1d	22	0.11mi
1100 112th Ave NE Unit 1280462P Bellevue, WA	1.0	1.0	581	$6,236	$10.73	3d	1	0.14mi
11011 NE 9th St Bellevue, WA	2.0	1.0–2.0	840	$3,436	$4.09	2d	12	0.15mi
10688 NE 10th St Bellevue, WA	2.0	1.0–2.0	848	$2,863	$3.37	1d	9	0.24mi
1188 106th Ave NE Bellevue, WA	2.0	2.0	1231	$4,750	$3.86	24d	2	0.27mi
688 110th Ave NE Bellevue, WA	3.0	1.0–3.5	2159	$8,980	$4.16	1d	23	0.30mi
1354 Bellevue Way NE #4 Bellevue, WA	1.0	1.0	810	$2,400	$2.96	18d	1	0.37mi
1256 Bellevue Way NE #2 Bellevue, WA	2.0	2.0	1100	$3,050	$2.77	3d	1	0.41mi
10351 NE 10th St #629 Bellevue, WA	1.0	1.0	662	$3,520	$5.31	16d	2	0.44mi
10351 NE 10th St #629 Bellevue, WA	2.0	1.0–2.0	836	$3,415	$4.08	43d	3	0.44mi
10349 NE 10th St Bellevue, WA	2.0	1.0–2.0	985	$3,676	$3.73	1d	1	0.45mi
317 112th Ave NE Bellevue, WA	2.0	1.0–2.0	905	$3,635	$4.02	2d	22	0.47mi
10485 NE 6th St Bellevue, WA	1.0–3.0	1.0–3.5	2202	$5,555	$2.52	1d	14	0.48mi
290 106th Pl NE Bellevue, WA	2.0	1.0	531	$2,090	$3.93	2d	14	0.50mi
308 108th Ave NE Bellevue, WA	1.0	1.0	651	$2,539	$3.90	1d	8	0.51mi
1515 Bellevue Way NE Bellevue, WA	1.0–2.0	1.0–2.0	1039	$2,795	$2.69	2d	12	0.52mi
211 112th Ave NE Bellevue, WA	—	1.0	580	$1,500	$2.59	43d	1	0.53mi
11115 NE 2nd St Bellevue, WA	1.0	1.0	546	$2,195	$4.02	1d	6	0.57mi
10050 NE 10th St Bellevue, WA	1.0	1.0	537	$2,620	$4.88	2d	5	0.57mi
10050 NE 10th St Bellevue, WA	3.0	1.0–2.0	852	$2,240	$2.63	19d	4	0.57mi
10410 NE 2nd St Bellevue, WA	3.0	1.0–2.0	1056	$2,617	$2.48	2d	1	0.60mi
362 Bellevue Way NE Unit 974 Bellevue, WA	1.0	1.0	820	$2,890	$3.52	43d	1	0.60mi
250 Bellevue Way NE #812 Bellevue, WA	1.0–2.0	1.0–2.0	957	$2,890	$3.02	2d	2	0.63mi
1000 100th Ave NE Bellevue, WA	1.0	1.0	769	$2,995	$3.89	3d	3	0.64mi
970 100th Ave NE Bellevue, WA	1.0	1.0	620	$2,238	$3.61	15d	2	0.65mi
970 100th Ave NE #41 Bellevue, WA	1.0	1.0	627	$2,500	$3.99	3d	1	0.65mi
860 100th Ave NE Bellevue, WA	2.0	1.5	1021	$2,395	$2.35	20d	1	0.66mi
111 108th Ave NE #411 Bellevue, WA	1.0	1.0	718	$2,200	$3.06	43d	1	0.67mi
1375 121st Ave NE Bellevue, WA	3.0	1.0–2.0	986	$3,402	$3.45	1d	15	0.67mi
35 112th Ave NE Bellevue, WA	2.0	1.0–2.0	859	$4,096	$4.77	1d	20	0.67mi
118 107th Ave NE Unit B105 Bellevue, WA	1.0	1.0	657	$2,295	$3.49	3d	1	0.67mi
188 Bellevue Way NE Bellevue, WA	1.0–2.0	1.5–2.0	1189	$4,400	$3.70	43d	2	0.69mi
10708 Main St Bellevue, WA	1.0	1.0	604	$2,000	$3.31	24d	1	0.69mi
12022 NE 8th St Bellevue, WA	2.0	1.0	875	$1,895	$2.17	14d	1	0.70mi

HOA detail condo

• Monthly dues: $520 · $6,240/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 37 events

1. 2026-06-18
   days on market $559,000 Active 34 DOM
2. 2026-06-17
   days on market $559,000 Active 33 DOM
3. 2026-06-16
   days on market $559,000 Active 32 DOM
4. 2026-06-15
   days on market $559,000 Active 31 DOM
5. 2026-06-13
   days on market $559,000 Active 29 DOM
6. 2026-06-09
   days on market $559,000 Active 25 DOM
7. 2026-06-08
   days on market $559,000 Active 24 DOM
8. 2026-06-07
   days on market $559,000 Active 23 DOM
9. 2026-06-04
   days on market $559,000 Active 20 DOM
10. 2026-06-03
    days on market $559,000 Active 19 DOM
11. 2026-06-02
    days on market $559,000 Active 18 DOM
12. 2026-06-01
    days on market $559,000 Active 17 DOM
13. 2026-05-31
    days on market $559,000 Active 16 DOM
14. 2026-05-15
    listed $559,000 Active
15. 2019-07-31
    soldstatus $519,950 Sold
16. 2019-07-31
    soldstatus $519,950
17. 2019-06-22
    status Pending
18. 2019-06-16
    listed $509,999 Active
19. 2015-03-13
    historical
20. 2015-03-06
    soldstatus $363,950 Sold
21. 2015-03-06
    soldstatus $363,950
22. 2015-02-04
    status Pending
23. 2015-01-28
    listed $349,950 Active
24. 2007-12-03
    soldstatus $300,000 Sold
25. 2007-12-03
    soldstatus $300,000
26. 2007-11-22
    historical
27. 2007-11-20
    status
28. 2007-11-18
    historical
29. 2007-11-10
    price $349,880
30. 2007-10-20
    price $374,900
31. 2007-09-26
    price $383,950
32. 2007-08-28
    price $379,950
33. 2007-06-30
    price $399,950
34. 2007-06-21
    listed $409,950
35. 2003-09-09
    soldstatus $217,500
36. 2003-09-09
    soldstatus $217,500
37. 2003-06-13
    listed $217,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast WA · Resets to sale price

• Current annual tax: $4,158 · $347/mo
• Projected year-2 tax: $5,478 · $457/mo
• Expected delta: +$1,320/yr (+$110/mo · 31.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥87°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 7/10 Severe 10 unhealthy d/yr today · 12 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,898
• − Mortgage interest: −$31,313
• − Property taxes: −$4,158
• − Insurance: −$2,795
• − Repairs & maintenance: −$2,712
• − Management: −$2,712
• − HOA: −$6,240
• − Depreciation: −$16,262
• Taxable loss: −$32,293
• Est. tax savings @ 24.0%: +$7,750
• After-tax cash flow: $-13,841/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Bellevue School District
• NCES district ID: 5300390
• Math proficiency: 73% ▼ -2.00%
• Reading proficiency: 79% ▬ 0.00%
• Median HH income: $92,676
• Composite: 69.36/100
• National rank: #622
• State rank: #7 of 291 in WA

Livability — Bellevue

• Score: 87/100
• State rank: #15
• US rank: #314

Category grades

Amenities A+ Commute A+ Cost of living F Crime C+ Employment A+ Housing B Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bellevue, WA
• County: King County · 2,251,916 people
• City population: 156,686
• Metro: Seattle-Tacoma-Bellevue, WA
• Population (ZIP): 39,897
• Household income: $182,545
• Rent vs Own: 63.6% rent · 36.4% own
• Severe rent burden: 1961.0

Population outlook (King County) Hauer SSP2

• Today (2025): 2,576,485 people
• By 2030: 2,803,316 · +8.8%
• By 2040: 3,255,921 · +26.4%
• By 2050: 3,706,444 · +43.9%
• By 2075: 4,746,063 · +84.2%
• By 2100: 5,407,730 · +109.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 45% Asian 40% Two or more races 9% Hispanic / Latino 6% Black 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 3% Romanian 2% Portuguese 2%
• Foreign-born: 42% · China, Canada, South Korea
• Languages at home: 56% English-only · Chinese 14% Other Indo-European 9% Other Asian/Pacific 7%

Political lean MEDSL · King

• 2024 margin: Solid D (+51.7) · D 74.2% · R 22.5% · Other 3.4%
• 2008→2024 swing: +9.6pp toward D · 2008: 42.1pp · 2024: 51.7pp
• All cycles: 2024: D+51.7 2020: D+52.7 2016: D+50.4 2012: D+39.9 2008: D+42.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.34%
• Current HPI: 405.5569
• Rent YoY: ▼ -0.24%
• Metro: Seattle-Tacoma-Bellevue, WA
• State GDP YoY: ▲ 4.65%
• F500 in state: 22

Industry mix (Fortune 500 HQ in WA)

Industry	F500 HQs	Revenue
▸Retail	2	$269B
▸Technology / Retail	1	$638B
▸Technology	1	$245B
▸Telecommunications	1	$38B
▸Food / Beverage	1	$36B
▸Automotive / Trucks	1	$34B

Price history

+157.0% since first listed

24 events — show timeline

• 2026-05-15 Listed $559,000 NWMLS as Distributed by MLS Grid
• 2019-07-31 Sold (Public Records) $519,950 Public Records
• 2019-07-31 Sold (MLS) $519,950 NWMLS as Distributed by MLS Grid
• 2019-06-22 Pending — NWMLS as Distributed by MLS Grid
• 2019-06-16 Listed $509,999 NWMLS as Distributed by MLS Grid
• 2015-03-13 Delisted — NWMLS as Distributed by MLS Grid
• 2015-03-06 Sold (Public Records) $363,950 Public Records
• 2015-03-06 Sold (MLS) $363,950 NWMLS as Distributed by MLS Grid
• 2015-02-04 Pending — NWMLS as Distributed by MLS Grid
• 2015-01-28 Listed $349,950 NWMLS as Distributed by MLS Grid
• 2007-12-03 Sold (Public Records) $300,000 Public Records
• 2007-12-03 Sold (MLS) $300,000 NWMLS as Distributed by MLS Grid
• 2007-11-22 Delisted — NWMLS as Distributed by MLS Grid
• 2007-11-20 Relisted — NWMLS as Distributed by MLS Grid
• 2007-11-18 Contingent — NWMLS as Distributed by MLS Grid
• 2007-11-10 Price Changed $349,880 NWMLS as Distributed by MLS Grid
• 2007-10-20 Price Changed $374,900 NWMLS as Distributed by MLS Grid
• 2007-09-26 Price Changed $383,950 NWMLS as Distributed by MLS Grid
• 2007-08-28 Price Changed $379,950 NWMLS as Distributed by MLS Grid
• 2007-06-30 Price Changed $399,950 NWMLS as Distributed by MLS Grid
• 2007-06-21 Listed $409,950 NWMLS as Distributed by MLS Grid
• 2003-09-09 Sold (Public Records) $217,500 Public Records
• 2003-09-09 Sold (MLS) $217,500 NWMLS as Distributed by MLS Grid
• 2003-06-13 Listed $217,500 NWMLS as Distributed by MLS Grid

Property tax history

+4.1%/yr

Latest (2025): $4,158 · -19.9% YoY. Source: county tax records.